Brumbach v. McLean

Citations

• 196 Pa. 321
• 46 A. 418
• 1900 Pa. LEXIS 521

Syllabus

<p>Mortgage — Assignment of mortgage — Notice.</p> <p>The purchaser of a bond and mortgage who fails to require the production of the papers is chargeable with'notice of any defect in the assignor’s title thereto.</p> <p>A parol assignment of a mortgage which is accompanied by delivery of the mortgage papers will prevail over a subsequent written assignment of the same mortgage.</p> <p>One who takes an assignment of a mortgage without any delivery of the mortgage to him, assumes the risk of meeting, sooner or later, some one able to show an earlier valid title, and when such person appears claiming the mortgage under a parol assignment prior to his, he cannot justly complain of consequences, due solely to his failure to exercise common prudence in an ordinary business transaction.</p>